L Brands Q3 earnings drop 29 percent

L Brands earnings per share for the third quarter ended October 28, 2017, decreased 29 percent to 0.30 dollar compared to 0.42 dollar for the quarter ended October 29, 2016. Third quarter operating income decreased 18 percent to 231.7 million dollars compared to 283.6 million dollars last year, and net income was 86 million dollars compared to 121.6 million dollars last year.

The company reported net sales of 2.618 billion dollars, an increase of 1 percent, compared to net sales of 2.581 billion dollars for the same quarter last year, while comparable sales decreased 1 percent for the quarter. The company said, the exit of the swim and apparel categories had a negative impact of about 2 percentage points to both total company and Victoria’s Secret comparable sales.

The company stated that it expects 2017 fourth quarter earnings per share to be 1.95 dollars to 2.10 dollars or 3.05 dollars to 3.20 dollars for the full year 2017.

Picture:L Brands website